The Criteria That Is Not Included in the Framework's Definition

question 24

Multiple Choice

The criteria that is not included in the Framework's definition of income is:

• A)An increase in economic benefits
• B)The economic benefits are in the form of increases in assets or reductions in liabilities of the entity (not resulting from equity contributions)
• C)The economic benefit results from transactions or events that constitute the entities ongoing major or central operations
• D)The benefits result in an increase in equity during the period

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Definitions:

Talcott Parsons

An American sociologist known for developing a general theoretical framework for the social sciences and for his theories concerning social action, the system, and functionalism.

Robert Merton

An American sociologist known for his theories of social structure, anomie, and for developing the concept of self-fulfilling prophecy.

Middle-range Theories

Theories that operate between the minor but necessary working hypotheses that evolve in abundance during day-to-day research and the all-inclusive systematic efforts to develop a unified theory that will explain all the observed phenomena.

Marxian Theories

A set of socio-economic ideas that analyze the effects of capitalism on labor, productivity, and economic development.